Derivative Financial Instruments (Tables)

3 Months Ended

Apr. 01, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of the Company's Derivative Instruments and the Line Items on the Consolidated Balance Sheets

The fair values of the Company’s derivative instruments and the line items on the unaudited condensed consolidated balance sheets to which they were recorded as of April 1, 2018 and December 31, 2017 are summarized as follows:



Derivative Assets	Balance Sheet Location	April 1, 2018		December 31, 2017		Balance Sheet Location	April 1, 2018		December 31, 2017
		(In thousands)					(In thousands)
Derivative assets not designated as hedging instruments	Prepaid expenses and other current assets	$	846	$	1,314	Other accrued liabilities	$	3,374	$	7,128
Derivative assets designated as hedging instruments	Prepaid expenses and other current assets	9		485		Other accrued liabilities	59		1,064
Total		$	855	$	1,799		$	3,433	$	8,192

Schedule of Offsetting of Derivative Assets

The following tables set forth the offsetting of derivative assets as of April 1, 2018 and December 31, 2017:



As of April 1, 2018							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
As of April 1, 2018	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts Of Assets Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Cash Collateral Pledged		Net Amount
	(In thousands)
JP Morgan	$	28	$	—	$	28	$	(10	)	$	—	$	18
Bank of America	541		—		541		(541		)	—		—
Wells Fargo	286		—		286		(286		)	—		—
Total	$	855	$	—	$	855	$	(837	)	$	—	$	18



As of December 31, 2017							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
As of December 31, 2017	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts Of Assets Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Cash Collateral Pledged		Net Amount
	(In thousands)
Bank of America	$	1,664	$	—	$	1,664	$	(1,664	)	$	—	$	—
Wells Fargo	135		—		135		(135		)	—		—
Total	$	1,799	$	—	$	1,799	$	(1,799	)	$	—	$	—

Schedule of Offsetting of Derivative Liabilities

The following tables set forth the offsetting of derivative liabilities as of April 1, 2018 and December 31, 2017:



As of April 1, 2018							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
As of April 1, 2018	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts Of Liabilities Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Cash Collateral Pledged		Net Amount
	(In thousands)
JP Morgan	$	10	$	—	$	10	$	(10	)	$	—	$	—
Bank of America	2,500		—		2,500		(541		)	—		1,959
Wells Fargo	923		—		923		(286		)	—		637
Total	$	3,433	$	—	$	3,433	$	(837	)	$	—	$	2,596



As of December 31, 2017							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
As of December 31, 2017	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts Of Liabilities Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Cash Collateral Pledged		Net Amount
	(In thousands)
Bank of America	$	7,815	$	—	$	7,815	$	(1,664	)	$	—	$	6,151
Wells Fargo	377		—		377		(135		)	—		242
Total	$	8,192	$	—	$	8,192	$	(1,799	)	$	—	$	6,393

Schedule of Effects and Locations of Gains or Losses Recognized in Income

The effects of the Company's cash flow hedges on the unaudited condensed statements of operations for the three months ended April 1, 2018 are summarized as follows:



	Location and Amount of Gains (Losses) Recognized in Income on Cash Flow Hedges
	Three Months Ended April 1, 2018
	Net revenue			Cost of revenue		Research and development		Sales and marketing		General and administrative
	(In thousands)
Statements of operations	$	344,973		$	240,468	$	28,947	$	43,658	$	16,638
Gains (losses) on cash flow hedge	$	(2,568	)	$	6	$	99	$	230	$	41

Schedule of Company's Derivative Instruments on Other Comprehensive Income and the Consolidated Statement of Operations

The pre-tax effects of the Company’s derivative instruments on OCI and the unaudited condensed consolidated statement of operations for the three months ended April 1, 2018 and April 2, 2017 are summarized as follows:



Derivatives Designated as Hedging Instruments	Three Months Ended April 1, 2018
Derivatives Designated as Hedging Instruments	Gains (Losses) Recognized in OCI - Effective Portion			Location of Gains (Losses) Reclassified from OCI into Income - Effective Portion	Gains (Losses) Reclassified from OCI into Income - Effective Portion⁽¹⁾
	(In thousands)
Cash flow hedges:
Foreign currency forward contracts	$	(1,500	)	Net revenue	$	(2,568	)
Foreign currency forward contracts	—			Cost of revenue	6
Foreign currency forward contracts	—			Research and development	99
Foreign currency forward contracts	—			Sales and marketing	230
Foreign currency forward contracts	—			General and administrative	41
Total	$	(1,500	)		$	(2,192	)

_________________________

⁽¹⁾Refer to Note 10, Stockholders' Equity, which summarizes the accumulated other comprehensive income activity related to derivatives.



Derivatives Designated as Hedging Instruments	Three Months Ended April 2, 2017
Derivatives Designated as Hedging Instruments	Gains (Losses) Recognized in OCI - Effective Portion			Location of Gains (Losses) Reclassified from OCI into Income - Effective Portion	Gains (Losses) Reclassified from OCI into Income - Effective Portion⁽¹⁾
	(In thousands)
Cash flow hedges:
Foreign currency forward contracts	$	(117	)	Net revenue	$	2,035
Foreign currency forward contracts	—			Cost of revenue	(13		)
Foreign currency forward contracts	—			Research and development	(19		)
Foreign currency forward contracts	—			Sales and marketing	(364		)
Foreign currency forward contracts	—			General and administrative	(59		)
Total	$	(117	)		$	1,580

_______________________

⁽¹⁾Refer to Note 10, Stockholders' Equity, which summarizes the accumulated other comprehensive income activity related to derivatives.

Schedule of Derivatives not Designated as Hedging Instruments

The effects of the Company’s non-designated hedge included in Other income (expense), net in the unaudited condensed consolidated statements of operations for the three months ended April 1, 2018 and April 2, 2017 are as follows:



Derivatives Not Designated as Hedging Instruments	Location of Gains (Losses) Recognized in Income on Derivative	Three Months Ended
Derivatives Not Designated as Hedging Instruments		April 1, 2018			April 2, 2017
		(In thousands)
Foreign currency forward contracts	Other income (expense), net	$	(2,408	)	$	(1,353	)